BAM Abbreviated Annual Report 2011 - Siteseeing in the world of ...

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Annual Report 2011 Sporen in Arnhem: modernisation and expansion of Arnhem Station (platforms, roof, new track, viaducts, noise barriers). BAM Rail, BAM Civiel, BAM Infraconsult, BAM Infratechniek, BAM Utiliteitsbouw, BAM Wegen, (in joint venture).
Foreword Royal BAM Group nv hereby presents the Annual Report for the financial year 2011 with a net result of €126.0 million and a revenue of €7.9 billion. Although the European construction and property markets were under great pressure for the third year in a row (and it is not clear when volumes and margins may start to recover), BAM can look back on a successful 2011. BAM’s operating companies are obviously not immune to decreasing volumes, stiff competition and a sharp drop in prices, but thanks in large part to the Group’s earlier strategic decisions – including a focus on excellence in project execution, risk management and sustainable operations – BAM was able to deliver solid and stable performances given the conditions on the market. The currently limited prospects for further growth for the Group on most of BAM’s markets were the main reason why the Executive Board took the decision in 2011 to revise the Group’s strategic agenda for 2010-2012. The result is an enhanced focus on core business, optimum deployment of the Group’s strengths through increased synergy, a reinforced financial position and the development of new growth opportunities. This revised agenda represents a solid basis for the new strategic agenda 2013-2015 which will be presented towards the end of 2012. As part of the process of updating the Group’s strategy, BAM has gained access to new growth opportunities by establishing permanent branches in Switzerland and Luxembourg, organising closer cooperation between companies in the BAM Group and reinforcing BAM International’s positions in growth markets outside Europe. More information about the Group’s strategic choices can be found in this Annual Report, starting on page 8. This report is structured differently than those of previous years, as the information in this Annual Report 2011 is presented according to the Group’s new organisational breakdown into four sectors: construction and mechanical and technical services, civil engineering, property and public-private partnerships (PPP). This simplified structure improves opportunities to increase focus and achieve optimum synergy. Everyone in the BAM Group continues to work with undiminished enthusiasm and commitment to further improve the Group’s sustainability performance. BAM’s ambitions and the results achieved in this area are briefly discussed in this Annual Report on page 64. More details can be found in a separate sustainability report, which we highly recommend. Across the board, BAM is fully engaged in corporate social responsibility, especially with regard to the key priorities of safety, reduction of CO emissions and waste. 2 BAM started the 2012 financial year with an order book standing at €10.4 billion (year-end 2011: €12.1 billion). In addition, the Group has approximately €2.9 billion worth of contracts in the order book for post-2016 (mainly maintenance work under PPP contracts and concession income). This healthy amount of work in the order book demonstrates the customers’ appreciation of BAM’s constructive role as a partner in the implementation of often large-scale and complex development and construction projects. This situation is an excellent starting point from which to expand on BAM Group’s good reputation and its leading position in the international construction and property markets in the interests of all stakeholders. Bunnik, Netherlands, 7 March 2012 N.J. de Vries 3 2011
Page 1 and 2: 2011 Abbreviated Annual Report
Page 3: Key figures (in €million, unless
Page 7 and 8: Outlook Royal BAM Group started 201
Page 9 and 10: Construction and mechanical and ele
Page 11 and 12: Better results are generally accomp
Page 13 and 14: 2. Optimum exploitation of strength
Page 15 and 16: 24 22 20 18 16 14 12 10 8 6 4 2 0 S
Page 17 and 18: Dividend policy Dividend policy and
Page 19 and 20: Report by the Supervisory Board to
Page 21 and 22: Fotobijschrift: 19 2011
Page 23 and 24: eported in each case on the state o
Page 25 and 26: Multipurpose complex for care and s
Page 27 and 28: and reported to the Supervisory Boa
Page 29 and 30: 27 2011
Page 31 and 32: to the financial objectives (maximu
Page 33 and 34: The variable remuneration actually
Page 35 and 36: The graduated scale shown below app
Page 37 and 38: The company has no other remunerati
Page 39 and 40: C.M.C. Mahieu (1959) Ms Mahieu grad
Page 41 and 42: Financial results Report by the Exe
Page 43 and 44: Result per ordinary share The numbe
Page 45 and 46: Oman Botanical Garden, Muscat. BAM
Page 47 and 48: of €16 million and a super divide
Page 49 and 50: financial year and the subsequent f
Page 51 and 52: manner with regard to the other mem
Page 53 and 54: Sporen in Arnhem: modernisation and
Page 55 and 56:
Approximately 130 metres-high ‘De
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Netherlands with a remaining term m
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N218 Hartel canal cycle bridge (600
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On the one hand, the operating comp
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ensure that it consistently and eff
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carrying out this project but was n
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Corporate Social Responsibility Pol
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Green walls and roofs of the BSH In
Page 71 and 72:
Worker participation European Works
Page 73 and 74:
y 7.7 percent in 2012. On the other
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Royal BAM Group is active in the co
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18 homes in the Elzenhagen neighbou
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The company continued to perform st
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Four school buildings for Alfons Ke
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Royal BAM Group operates in the Dut
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Underground high-voltage link for t
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Design of quay wall and mooring jet
Page 89 and 90:
Renovation and expansion of Tottenh
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Silberberg Railway Tunnel (7.4 kilo
Page 93 and 94:
Laela-Sumbawanga road improvement p
Page 95 and 96:
The Dutch property activities recor
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Redevelopment of a former domestic
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97 2011
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BAM PPP is responsible for Royal BA
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Tebodin Consultants & Engineers is
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Financial statements 2011 104 Conso
Page 107 and 108:
Consolidated income statement (x
Page 109 and 110:
Consolidated statement of equity (x
Page 111 and 112:
Company balance sheet at 31 Decembe
Page 113 and 114:
The Supervisory Board shall determi
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113 2011
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Royal BAM Group nv Royal BAM Group
Page 119 and 120:
2006 2005 2004 2003 1 2002 IFRS IFR
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119 2011
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Royal BAM Group nv Runnenburg 9 398
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